The Puzzle of the Underdog’s Victory

2021 ◽  
pp. 624-646
Author(s):  
Peter Ping Li ◽  
Shihao Zhou ◽  
Monsol Zhengyin Yang
Keyword(s):  
Global Market ◽  
Global Competition ◽  
Central Theme ◽  
The Past ◽  
Chinese Companies ◽  
Salient Features ◽  
Practical Implications

Traditionally, Chinese companies have been viewed as underdogs in global competition, but many Chinese latecomers have actually caught up and become major players in the global market in the past decade. This begs the question about this puzzle. Based on the authors’ case evidence, the central theme of this chapter is that many successful corporate underdogs share a pattern with two salient features. First, these firms tend to have stretch goals, that is, seemingly impossible goals given their available capabilities. Second, such firms tend to behave in a way similar to the notion of bricolage in terms of “making do by applying combinations of the resources at hand to new problems and opportunities.” By focusing on the question of how stretch goals and exploratory bricolage work together in the context of China, this chapter identifies the bricolage pattern with both theoretical and practical implications for both scholars and practitioners within and beyond China.

Redefining the paradigm of global competition: offshoring of service firms

2007 ◽  
Vol 8 (1) ◽  
pp. 35-42 ◽  
Author(s):  
Pieter Klaas Jagersma ◽  
Désirée M. van Gorp
Keyword(s):  
Research Study ◽  
Early Stage ◽  
Lessons Learned ◽  
Global Competition ◽  
Service Firms ◽  
Content Type ◽  
Practical Advice ◽  
The Past ◽  
Management Professionals ◽  
Practical Implications

PurposeThe article discusses offshoring as an irreversible trend that is redefining the paradigm of global competition of service firms, and provides insight and practical advice regarding the offshore behavior of service firms for management professionals.Design/methodology/approachThe offshoring process is applied to service firms including lessons learned. It is largely based on the results of a research study among 247 service firms determining their offshore behavior and illustrated with examples of their offshoring activities.FindingsOffshoring is redefining global competition and service firms should use it as a tool to create a competitive advantage vis‐à‐vis their competitors. In doing so they should careful prepare offshoring in different phases of the process as suggested in the 4M approach. Moreover, they should decide in an early stage on monitoring, reporting and measuring the offshoring process and secure continuous commitment from management.Research limitations/implicationsThe offshoring process referred to in this article as the 4M approach should be further tested among service firms.Practical implicationsProviding insight and practical advice regarding the offshore behavior of service firms for management professionals.Originality/valueResearch in the past has been largely focused on manufacturing firms. This article focuses on service firms and is based on findings of primary research executed by the authors.

Policy Diffusion of Emission Standards Is There a Race to the Top?

2013 ◽  
Vol 65 (1) ◽  
pp. 1-33 ◽  
Author(s):  
Eri Saikawa
Keyword(s):  
Policy Diffusion ◽  
International Market ◽  
Economic Incentives ◽  
Global Market ◽  
Race To The Top ◽  
Global Competition ◽  
The Past ◽  
Emission Standards ◽  
The World ◽  
Rich Countries

In a dramatic example of policy diffusion, the past three decades have witnessed the spread of automobile emission standards throughout the world. Contrary to fears that global competition would produce a race to the bottom, there appears to be a race to the top, not only among rich countries but also among poor ones. Using econometric analysis of the adoption of automobile emission standards over the past twenty years for 129 countries, the author argues that this global diffusion results from countries' efforts to stay competitive in the international market. Due to the pressure from importing countries that have adopted stringent emission standards, even developing countries have rapidly moved to adopt rich country standards. The evidence shows that adoption of automobile emission standards correlates with an increase in the total value of automobile exports. Under some conditions, economic incentives in a global market can be a complement to environmental protection.

Investigating interdependencies of sustainable supplier selection criteria: an appraisal using ISM

2020 ◽  
Vol 13 (2) ◽  
pp. 195-210 ◽  
Author(s):  
Avanish Singh Chauhan ◽  
Gaurav Kumar Badhotiya ◽  
Gunjan Soni ◽  
Prem Kumari
Keyword(s):  
Supplier Selection ◽  
Selection Criteria ◽  
Local Community ◽  
Pollution Prevention ◽  
Content Type ◽  
The Past ◽  
Micmac Analysis ◽  
Sustainable Supplier Selection ◽  
Social Environmental ◽  
Practical Implications

Purpose Because of the increased global competition and the need for environment consciousness, organisations have started focusing on incorporating sustainability dimensions into suppler selection criteria. In the past decade, sustainable supplier selection has received much attention from researchers as well as industry practitioners. The purpose of this paper is to identify various sustainable supplier selection criteria (SSSC) and underlying interdependencies among prominent selection criteria to develop a framework for sustainability dimensions. Design/methodology/approach The sustainable criteria for supplier selection were established through comprehensive literature review. An interpretive structural modelling (ISM) approach is used to investigate the interrelationships among these criteria. Findings A total of 21 SSSC under 3 dimensions (social, environmental and economic) are established. Ten criteria related to quality, capability, flexibility, waste management, pollution prevention, local community, employment practice, labour, etc. are exhibiting strong driving as well as dependence power, as demonstrated through ISM and matriced’ impacts croises-multiplication applique’ and classement (MICMAC) analysis. The findings show that delivery/service, eco design and rights of stakeholders are the “key” criteria having a high-driving and low-dependence power. These criteria require high attention from managers, while other criteria having low-driving and high-dependence power require secondary actions. Research limitations/implications The inter-relations for the development of ISM model and MICMAC analysis were obtained through the opinion of industry experts and academicians, which may tend to be subjectively biased. Further exploration is proposed to statistically validate the developed interdependency model. Practical implications This paper might act as a reference for the supplier development managers of organisations by providing an appraisal of various SSSC based on their interdependencies. Originality/value This study contributes to the knowledge base by proposing a framework of the interrelationships of the SSSC and also provides an additional perspective for managing these criteria based on ISM.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

The public-private partnership valuation paradox

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Gray ◽  
Jason Hall ◽  
Grant Pollard ◽  
Damien Cannavan
Keyword(s):  
Mathematical Proof ◽  
Systematic Risk ◽  
Cash Flows ◽  
Current Theory ◽  
Apparent Paradox ◽  
Content Type ◽  
The Public ◽  
The Past ◽  
Alternative Approaches ◽  
Practical Implications

Purpose In the context of public-private partnerships (PPPs), it has been argued that the standard valuation framework produces a paradox whereby government appears to be made better off by taking on more systematic risk. This has led to a range of approaches being applied in practice, none of which are consistent with the standard valuation approach. The purpose of this paper is to demonstrate that these approaches are flawed and unnecessary. Design/methodology/approach The authors step through the proposed alternative valuation approaches and demonstrate their inconsistencies and illogical outcomes, using theory, logic and mathematical proof. Findings In this paper, the authors demonstrate that the proposed (alternative) approaches suffer from internal inconsistencies and produce illogical outcomes in some cases. The authors also show that there is no problem with the current accepted theory and that the apparent paradox is not the result of a deficiency in the current theory but is rather caused by its misapplication in practice. In particular, the authors show that the systematic risk of cash flows is frequently mis-estimated, and the correction of this error solves the apparent paradox. Practical implications Over the past 20 years, PPP activity around the globe amounts to many billions of dollars. Decisions on major infrastructure funding are of enormous social and economic importance. Originality/value To the best of the authors’ knowledge, this study is the first to demonstrate the flaws and internal inconsistencies with proposed valuation framework alternatives for the purposes of evaluating PPPs.

How do Chinese employees respond to leader bottom-line mentality? A conservation of resources perspective

2021 ◽  
Vol 49 (3) ◽  
pp. 1-11
Author(s):  
Wenhai Wan ◽  
Danni Zhang ◽  
Xiayi Liu ◽  
Kaijie Jiang
Keyword(s):  
Emotional Exhaustion ◽  
Positive Relationship ◽  
Conservation Of Resources ◽  
Conservation Of Resources Theory ◽  
Bottom Line ◽  
Wave Data ◽  
Chinese Companies ◽  
Employee Silence ◽  
Indirect Relationship ◽  
Practical Implications

Using conservation of resources theory as a framework, we proposed that in Chinese organizations, leader bottom-line mentality (BLM) would promote employee silence via emotional exhaustion. We also examined employee conscientiousness as a moderator of this indirect relationship. We collected three-wave data from 325 employees in four Chinese companies. Results show that leader BLM was positively related to employee silence, and employee emotional exhaustion mediated the positive relationship between leader BLM and employee silence. In addition, employee conscientiousness served as a first-stage moderator, such that the indirect relationship between leader BLM and employee silence via employee emotional exhaustion was significant and positive only when employee conscientiousness was low. Theoretical and practical implications are discussed.

Recent civil and criminal enforcement action involving high frequency trading

2015 ◽  
Vol 16 (1) ◽  
pp. 5-12 ◽  
Author(s):  
Matthew Rossi ◽  
Greg Deis ◽  
Jerome Roche ◽  
Kathleen Przywara
Keyword(s):  
High Frequency ◽  
Design Methodology ◽  
High Frequency Trading ◽  
Content Type ◽  
Enforcement Action ◽  
The Past ◽  
Trading Patterns ◽  
Federal Prosecutor ◽  
Enforcement Activity ◽  
Practical Implications

Purpose – To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015. Design/methodology/approach – Reviews four significant proceedings against high frequency trading firms (and/or individuals employed by such firms) and other developments from the relevant government agencies as a possible preview of the enforcement and prosecution of high frequency trading practices in 2015. Provides advice to high frequency trading firms on how to decrease the risk of regulatory or criminal actions against them in this changing environment. Findings – Although the focus on high frequency trading has only recently begun to intensify, firms should be aware of the increased enforcement activity of the past year. These actions, both regulatory and criminal, have already resulted in large penalties and have helped initiate a strengthening of rules and regulations regarding manipulative trading practices, of which firms need to be aware and stay current. Practical implications – High frequency trading firms should be aware of the recent regulatory and criminal actions in order to better evaluate their own practices and controls, to ensure that their trading patterns do not resemble manipulative practices, and to avoid similar actions. Originality/value – Practical guidance from experienced litigators and securities regulatory lawyers, including a former SEC Assistant Chief Litigation Counsel and a former federal prosecutor, that consolidates and describes several recent actions and developments in one piece.

scholarly journals Where Can Tourism-Led Growth and Economy-Driven Tourism Growth Occur?

2018 ◽  
Vol 58 (5) ◽  
pp. 760-773 ◽  
Author(s):  
Vera Shanshan Lin ◽  
Yang Yang ◽  
Gang Li
Keyword(s):  
Growth Patterns ◽  
International Tourism ◽  
Causal Relationships ◽  
Regional Economic ◽  
Empirical Results ◽  
Developed Economies ◽  
The Past ◽  
Factors Influencing ◽  
Probit Models ◽  
Practical Implications

In this study, we investigate the causal relationships between international tourism growth and regional economic expansion in China, and more importantly, disclose the factors determining the occurrence of these relationships. The empirical results reveal that 10 of 29 regions experienced tourism-led growth (TLG) during 1978 to 2013, whereas nine regions experienced economy-driven tourism growth (EDTG). Different from the past literature, this study uses Bayesian probit models to unveil the factors influencing these different growth patterns. Our results suggest that regions with less-developed economies, larger economic sizes, and covering larger geographic areas are more likely to experience TLG, and regions with less-developed economies are more likely to experience EDTG as well. Lastly, practical implications are provided.

An Enquiry into the Process of Categorization of Pictures and Words

2003 ◽  
Vol 96 (1) ◽  
pp. 267-287 ◽  
Author(s):  
Madhubalan Viswanathan ◽  
Terry L. Childers
Keyword(s):  
Semantic Processing ◽  
Semantic Relatedness ◽  
Experimental Paradigm ◽  
The Past ◽  
Word Categorization ◽  
Multiple Routes ◽  
Methodological Problems ◽  
Series Of Experiments ◽  
Pictures And Words ◽  
Salient Features

This paper reports a series of experiments conducted to study the categorization of pictures and words. Whereas some studies reported in the past have found a picture advantage in categorization, other studies have yielded no differences between pictures and words This paper used an experimental paradigm designed to overcome some methodological problems to examine picture-word categorization. The results of one experiment were consistent with an advantage for pictures in categorization. To identify the source of the picture advantage in categorization, two more experiments were conducted. Findings suggest that semantic relatedness may play an important role in the categorization of both pictures and words. We explain these findings by suggesting that pictures simultaneously access both their concept and visually salient features whereas words may initially access their concept and may subsequently activate features. Therefore, pictures have an advantage in categorization by offering multiple routes to semantic processing.

State of the Canadian hospitality and tourism industry

2017 ◽  
Vol 9 (4) ◽  
pp. 381-390
Author(s):  
Chandana (Chandi) Jayawardena ◽  
Altaf Sovani ◽  
Alanna MacDonald
Keyword(s):  
Tourism Industry ◽  
Theme Issue ◽  
Content Type ◽  
Tourism Marketing ◽  
The Past ◽  
Labour Shortage ◽  
Hospitality And Tourism ◽  
Hospitality And Tourism Industry ◽  
Marketing Budgets ◽  
Practical Implications

Purpose This paper aims to provide a backdrop to the Worldwide Hospitality Themes (WHATT) theme issue (volume 9, issue 4) on aspects of the hospitality and tourism industry of Canada. Design/methodology/approach Canadian hospitality and tourism educators and their counterparts in the industry have collaborated periodically to discuss the challenges they face and to find practical solutions. Outcomes of ten key initiatives in Canada during the past 15 years that brought leaders of the hospitality and tourism industry and academia together to create 50 academic papers are summarized. Findings This paper provides key information on Canada, its people, its economic conditions and the challenges of the five sectors of the tourism industry in Canada. By introducing the main challenges faced by each sector, this paper provides a foundation for the other articles that follow in this WHATT theme issue. Practical implications Canadian tourism is losing ground, tourism marketing budgets are significantly reducing and there is a labour shortage crisis which are identified as key challenges requiring urgent attention. In conclusion, the authors suggest practical solutions. Originality/value Readers who are interested in the Canadian hospitality and tourism industry will find this paper to be of interest.

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